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HDFC Home Loans

HDFC Limited, a leading name in housing finance in India has been instrumental in helping over 5.4 million Indians fulfil their dreams of owning their own homes since inception in 1977. Founded by the eminent visionary Late Mr. H. T. Parekh, the Company has grown exponentially over close to four decades.

What set this housing finance company (or HFC) apart from the others are its superior service levels and policies that make availing a housing loan a smooth and fuss-free experience. So much so, it has been identified as a model HFC for developing countries and in nascent housing finance markets. An extension of this exercise, the Company has undertaken several prestigious consultancy assignments in various countries globally, including across Asia, Africa and East Europe.

Company brief

Having pioneered the industry almost single-handedly since then, the gross loans disbursed by the Company have crossed Rs. 2.9 trillion as on date, with the number of applications only growing steadily each year.

What sets them apart?

From the very beginning, given their policies and practices, the HDFC name has come to be synonymous with trust, integrity, transparency and professional service – all the core values that the Company imbibes even today

Geographic spread

From its humble beginnings in Mumbai’s business district, HDFC Limited has now expanded to cast an extensive distribution network not just within India but overseas as well. There are currently 401 interconnected offices to service several towns and cities across the country. Globally, the Company has 3 representative offices in London, Dubai and Singapore that offer competitive home loan products to both non-resident Indians (NRIs) as well as persons of Indian origin (PIOs).

In addition to HDFC Limited’s own offices, the Company continues to expand its distribution network through HDFC Sales, HDFC Bank, Credila and other third party Direct Selling Associates (DSAs).

Product information

HDFC Limited offers a range of both housing as well as non-housing loan solutions to individuals. Additionally, the Company offers deposits to both individuals and trusts.

All of these product offerings can be categorised as under:

Housing Loans

For Resident Indians

  • HDFC home loans, which include offerings for new homes, resale (or pre-owned) homes, as well as construction of a house.
  • In addition, the Company has a balance transfer loan offering, for those individuals who want to move their existing loan (from another provider) to HDFC Limited.
  • Home improvement loans, for any refurbishment that an individual may want to carry out on their existing home.
  • Home extension loans, for those wanting to for instance put up more floors or build additional rooms in their existing homes.
  • Plot loans
  • Short term bridging loans
  • Rural housing finance

For Non-resident Indians or Persons of Indian Origin

While the products themselves may not differ from those on offer for resident Indians, the terms and conditions would. The Company offers:

  • Home loans
  • Home improvement loans
  • Home extension loans
  • Plot loans

The Company offers special products such as home loans for women, which come at a special or differential interest rate as compared to the standard home loans. This feature is applicable for those loan applications where a woman is an owner/ co-owner and an applicant/ co-applicant to the housing loan.

Non-Housing Loans

This loan category includes:

  • Loan against property
  • Top-up loans
  • Non-residential premises loans, for built-up property as well as plots of land
Loan application process

In keeping with the tradition of employing the best in class business practices, the Company not allows gives applicants the comfort of walking in to the nearest HDFC Limited branch and applying for a home loan, but provides other options as well. This includes making an online application, or having a Company representative contact you (by filling in a simple online form) at your convenience.

Further, for existing loan account holders, help is always at hand, with online access, live chat on the Company website as well as a well-manned help centre.

Company financials

As per data published by HDFC Limited, the income from Operations for the year ended March 31, 2016 was Rs. 29,257.31 crore (audited), with a profit before tax of Rs. 10,108.10 crore and a net profit after tax of Rs. 7,093.10 crore.

As at June 30, 2016 the loan book stood at Rs. 2,65,731 crore as against Rs. 2,31,224 crore in the previous financial year.

Additional information

The Company has several diversified business interests, and is parent company to a gamut of banking and financial services companies, including a bank, both life and general insurance companies, asset management, realty, and education loans, among others.

HDFC Limited has featured in hallmarked publications such as the Harvard Business Review, being the subject matter of case studies for aspiring business management students and professionals alike.

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